Ulaanbaatar and MBA agrees to launch Green Loan Fund

Representatives from Ulaanbaatar Mayor's Office and Mongolian Bankers' Association meeting on December 12

The Ulaanbaatar Mayor’s Office and Mongolian Bankers’ Association (MBA) met on December 12 to launch cooperation for achieving environmental and green development goals specified in the Ulaanbaatar Mayor’s 2020 Action Plan.

City administrators, MBA executive director J.Unenbat, and Deputy Ulaanbaatar Mayor in charge of Green Development and Air Pollution J.Batbayasgalan exchanged information on MBA’s Sustainable Finance Program, Green Certification Program initiated by the Ulaanbaatar Department of Environment and Green Development, and Curbing Environmental Pollution Foundation to be established by the Ulaanbaatar Air Quality Department.

Through the meeting, the two sides were able to discover an opportunity to carry out several environment and infrastructure projects in the capital with investment from international foundations that provide financial support for reducing greenhouse gas emissions and adapting to climate change. The Ulaanbaatar Mayor’s Office and MBA agreed to cooperate on establishing a Green Loan Fund and developing a green development criteria required for foreign financial support within 2017.

The UB Post was first founded in 1996, and has since become Mongolia’s leading English-language news outlet. As part of the broader Mongol News group, the UB Post provides comprehensive coverage of social, economic and political developments in Mongolia and elsewhere.